The Reel

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A blog for breaking sales and neighborhood real estate news.

The  office  sector  saw  49  properties  sold,  a  decrease  of  17%
from 2013, with 10 properties sold in the fourth quarter, down
from 14 sold in 4Q13. Total dollar volume for the year reached
$174M, 11% lower than 2013’s total, with $89M sold in 4Q14,
over five times as much as the total in 4Q13. Price per square
foot  averaged  $179,  down  11%  from  2013’s  average,  with  the
fourth quarter averaging $164, down 21% from 4Q13’s average.
Cap rates climbed 46 bps on the year, to 7.0%.